The 10 Most Important Executive Moves This Week
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This week, Reddit found its first CFO, Magic Johnson joined Fanatics, Nike's VP and GM of North America resigned, and Walmart recruited new execs from Wall Street.
This week, Reddit found its first CFO, Magic Johnson joined Fanatics, Nike's VP and GM of North America resigned, and Walmart recruited new execs from Wall Street.
These are our top picks for the most important executive appointments and departures this week. For executive news updated daily, check out The Org's People on The Move.
1. Former Snap Inc Exec Joins Reddit as the Company's First-Ever CFO
Drew Vollero will be joining Reddit as the company’s first-ever Chief Financial Officer. The former Snap Inc CFO will be joining the leadership team of the internet’s most notorious discussion site amid increased discussions of its initial public offering (IPO). He will join the Reddit team in late March, reporting directly to COO Jen Wong.
2. Goldman Executives Leave Wall Street to Join Walmart Venture
Chief of Consumer Banking at Goldman Sachs, Omer Ismail, is leaving the company to join a fintech venture headed by Walmart. It is reported that his top lieutenant, David Stark who was recently named the head of large partnerships, will be joining him. Details about their moves are still unknown.
3. Macy’s Restructures Its Leadership Team in Search of Agility
Macy’s has made a series of sweeping leadership changes that are aimed at improving the department store’s agility and efficiency, including making its Chief Operating Officer redundant.
4. IBM names Kathryn Guarini as Chief Information Officer
A research executive who has been with IBM for over 20 years was named Chief Information Officer on Monday. Kathryn Guarini succeeds Fletcher Previn, who has left the company to pursue other opportunities.
5. Beyond Meat CFO Announces His Retirement
Beyond Meat said its Chief Financial Officer, Mark Nelson, will retire on May 5, 2021, after more than 5 years with the plant-based meat company, according to Reuters. However, he won’t be completely severing ties with the company as he will remain as a consultant until May 5, 2023.
6. Microsoft Appoints New Chairman and CEO of Greater China Region
Yang Hou, former SVP of Sales and Business Development at Qualcomm, will be taking over as chairman and CEO of Microsoft’s Greater China Region. The company announced Monday that Hou will be taking over for Alain Crozier, who has served in the role since 2016. Crozier will continue to lead the team until July 1.
7. ‘Magic’ Changes Are Happening On the Fanatics Board of Directors
Fanatics has appointed legendary basketball player Earvin “Magic” Johnson to its Board of Directors. Johnson joins as an independent board member, alongside Mindy Grossman, CEO of Weight Watchers International, and Jerry Storch, Founder and CEO of Storch Advisors.
8. Vice President of Nike North America Resigns After Family Ties to Sneaker Resales
Ann Hebert, Vice President and General Manager of Nike North America, has resigned after reports revealed that her 19-year-old son, Joe Hebert, had been using a credit card in her name to purchase sneakers for his resale company, West Coast Streetwear. Her resignation is effective immediately.
9. Cisco Adds Intuit CTO to its Board of Directors
Cisco appointed Marianna Tessel to its Board of Directors on March 5, increasing its board size to 11 members. Tessel has been working as the EVP and CTO of Intuit since January 2019 and previously served as Chief Product Development Officer for the financial software company’s Small Business & Self-Employed Group.
10. Gap Adds Former Disney Exec As Sixth Female Board Member
Gap has elected Salaam Coleman Smith as the newest member of its Board of Directors. The move, which is effective March 22, 2021, will make Coleman Smith the sixth female member of the clothing company’s Board of Directors.
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